|Clapham House Group
||EPS - Basic
||Market Cap (m)
|Travel & Leisure
Real-Time news about Clapham Hse (London Stock Exchange): 0 recent articles
29 July 2010
The Clapham House Group plc ("Clapham House" or the "Company")
Statement re share price movement
The Board of Clapham House notes the recent movement in the Company's share price and confirms that it has received an approach which may or may not lead to an offer being made for the Company. There can be no certainty that an offer will be made for the Company or the terms on which such an offer may be made.
In accordance with Rule 2.10 of the Takeover Code, the Company confirms that, as at the close of business on 28 July 2010, its issued share capital consisted of 41,051,796 ordinary shares with a nominal value of 10 pence each ("Ordinary Shares"), with each Ordinary Share carrying equal voting rights. The Company holds no Ordinary Shares in treasury. The International Securities Identification Number for the Ordinary Shares is GB0033757492.
A further announcement will be made in due course, as appropriate.
Altium Capital Limited Tel: +44 (0)20 7484 4040
Ben Thorne / Sam Fuller / Katherine Hobbs
Financial Dynamics Tel: +44 (0)20 7831 3113
Jonathon Brill / Caroline Stewart
Altium Capital Limited ("Altium") which is regulated in the United Kingdom by The Financial Services Authority is acting for the Company in relation to the matters described in this announcement and is not advising any other person, and accordingly will not be responsible to anyone other than the Company for providing the protections afforded to customers of Altium or for providing advice in relation to the matters described in this announcement.
Under Rule 8.3(a) of the Takeover Code, any person who is interested in 1 per cent. or more of any class of relevant securities of an offeree company or of any paper offeror (being any offeror other than an offeror in respect of which it has been announced that its offer is, or is likely to be, solely in cash) must make an Opening Position Disclosure following the commencement of the Offer Period and, if later, following the announcement in which any paper offeror is first identified. An Opening Position Disclosure must contain details of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror(s). An Opening Position Disclosure by a person to whom Rule 8.3(a) applies must be made by no later than 3:30pm (London time) on the 10th business day following the commencement of the Offer Period and, if appropriate, by no later than 3:30pm (London time) on the 10th business day following the announcement in which any paper offeror is first identified. Relevant persons who deal in the relevant securities of the offeree company or of a paper offeror prior to the deadline for making an Opening Position Disclosure must instead make a Dealing Disclosure.
Under Rule 8.3(b) of the Takeover Code, any person who is, or becomes, interested in 1 per cent. or more of any class of relevant securities of the offeree company or of any paper offeror, must make a Dealing Disclosure if the person deals in any relevant securities of the offeree company or of any paper offeror. A Dealing Disclosure must contain details of the dealing concerned and of the person's interests and short positions in, and rights to subscribe for, any relevant securities of each of (i) the offeree company and (ii) any paper offeror, save to the extent that these details have previously been disclosed under Rule 8. A Dealing Disclosure by a person to whom Rule 8.3(b) applies must be made by no later than 3:30pm (London time) on the business day following the date of the relevant dealing.
If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire or control an interest in relevant securities of an offeree company or a paper offeror, they will be deemed to be a single person for the purpose of Rule 8.3.
Opening Position Disclosures must also be made by the offeree company and by any offeror and Dealing Disclosures must also be made by the offeree company, by any offeror and by any persons acting in concert with any of them (see Rules 8.1, 8.2 and 8.4). Details of the offeree and offeror companies in respect of whose relevant securities Opening Position Disclosures and Dealing Disclosures must be made can be found in the Disclosure Table on the Panel's website at www.thetakeoverpanel.org.uk, including details of the number of relevant securities in issue, when the Offer Period commenced and when any offeror was first identified. If you are in any doubt as to whether you are required to make an Opening Position Disclosure or a Dealing Disclosure, you should contact the Panel's Market Surveillance Unit on +44 (0)20 7638 0129.|
|liveinhope: UKREG issued today seems to indicate further grants of options totalling 1,830,754 "awards".
" The Awards will be exercisable from 15 October 2012, but only to the extent
that certain performance criteria are met: (i) the Company's total shareholder
return exceeds the return of the AIM Index over three year period following the
grant of Awards; and (ii) share price performance targets are achieved over the
three year period following the grant of Awards. The Threshold target for the
Awards has been set at GBP1.042, being the closing price prior to the date of
grant compounded by 15% per annum, while the Maximum target for the Awards has
been set at GBP1.338, being the closing price prior to the date of grant
compounded by 25% per annum. The closing price for the purposes of these
calculations was GBP0.685, being the closing mid-market price on 14 October
Time for Management to start delivering.............|
|liveinhope: Share price still going northwards today. jazza - you are right. I am pleased about debt reduction.|
|liveinhope: IMHO sound trading update. With low interest rates and returning consumer confidence I would hope for some recovery in share price. Management Team seems strong and have experience of previous economic cycles.|
|gizmohican: Great results in current climate!!! Share price so undervalued!!|
|lomax99: Multi-brand restaurant group Clapham House, which foresaw a sustained economic downturn on the horizon back in December and curtailed its previously rapid growth plans, has issued stronger results than it seems the market was expecting.
In the year to 25 March, restaurant openings across its four brands Gourmet Burger Kitchen (GBK), Tootsies, the Bombay Bicycle Club and the Real Greek lifted the group total to 96 restaurants, hoisting revenues 30% higher to £59.5m and profits to £4.7m before tax and exceptionals. However, growth this year will be less impressive as the roll-out will be much slower, confirms chief executive Paul Campbell, who says the plan is to roll out ten to 13 new outlets.
Trading is 'satisfactory' but the outlook is cautious and Campbell stresses that, as well as slowing down expansion, 'we're concentrating on controlling costs and doing all we can to promote sales'. A total of £9.2m of cash was generated last year and the store roll-out is all being funded from this.
'Capex is controllable,' reminds Campbell, 'and we think the expansion plan at the moment is right for this stage in the economic cycle. Looking forward, we see next year looking the same, but if conditions improve we can ramp up the pace again.' Last year, net debt rose 68% to £16m, but £21.7m of unused overdraft facilities still remain for such a purpose.
Backed here at 165p in 2005, the shares soared to over £4 by last summer, before slipping in December when the company flagged up its more conservative strategy. Although the company seems to be paddling quite furiously to maintain its progress and the economy is turning down, Clapham House is a well-managed operator and its current valuation is undemanding. The shares are worth holding long-term.
The above is from GCI when the price was £1.01, unfortunately furious paddling has had no impact in arresting the continuing slide in the share price.|
|liveinhope: Thomson Financial today - "The recent share price slide in Clapham House Group Plc., although not out
of sync with peers, suggests bad news will be forthcoming.
Broadly speaking, Matthew Gerard of Investec Securities does not think this
is likely -- GBK should be trading well, given the London focus, and the analyst
is optimistic that the new menu launch in Tootsies has had a positive impact.
Corporate action is possible over the next few months and this will focus
the market on the value in GBK, Gerard suggests.
Following December's profit warning, a detailed full-year pre-close update
in March was generally more upbeat, particularly with respect to the core GBK
brand where new openings and mature sites have been trading strongly.
Gerard believes management will consider sensible offers for Tootsies or the
other non-core brands as it would a) release further funds to invest in the
high-growth, highly profitable GBK brand, and b) lead to a re-rating of the
shares given the focus on GBK (particularly in the light of Capricorn's declared
24.9 percent stake).
While credit markets clearly remain difficult, this would be a relatively
small transaction and the analyst would not rule out some form of corporate
action on this over the next few months."|
|lomax99: fairly depressing this inexorable slide in their share price, I understand that the results are due out shortly - hopefully positive trading figures/news on disposals will reverse the trend.|
|liveinhope: Also according to recent UKREG announcemenents looks like others hold interesting stakes as well.
Wellington Man't 5.24%
Henderson Global 5.09%
Deutsch bank 5.03%
Fidelity Int 4.75%
MF Global 4.02%
Interesting times could be ahead as most of above seem to have added to their holdings when share price falls which might indicate share price has bottomed out but in this current volatile market who really knows anymore?|
Hospitality Industry - Is the perfect storm gathering pace over the pub and restaurant industry?
Some of the bad news is already factored into many companies share price, but this week a raft of downbeat trading updates increased the pace of the share price erosion.|
Clapham House share price data is direct from the London Stock Exchange